By Nigel Somerville, the Deputy Sheriff of AIM | Monday 27 July 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
They say that lightning doesn’t strike twice in the same place, but shares in John Zorbas vehicle, AIM-listed URU Metals (URU) metals have suddenly screamed higher on no news – just as they did while massively technically insolvent in early May, only for shareholders to be walloped with a placing at a whopping (mis-stated) 57.5% discount. With the shares back up again – and the company still technically insolvent – is lightning about to strike for a second time?